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Actionable news in MELI: MercadoLibre, Inc.,

MercadoLibre Falls 2%: Free Shipping Pain, JPM Says

With free shipping promotions weighing on profits for Latin American online retail platform MercadoLibre (MELI), J.P. Morgan Securities lowered its price target on the stock Wednesday.

The stock slipped more than 2% in early trading to $246.21. Analysts Andre Baggio, Marcelo Santos and Doug Anmuth see 10% upside from here, but they lowered their 18-month price target on U.S.-traded shares to $270 from $300. The analysts expect new margin pressure in Brazil and ongoing...


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